Tag: Financial Calculators

HP 17BII: Buy The Ultimate Financial Calculator For The Finance Professional

Every finance professional carries a calculator through the day. Normally simple addition is all that is needed, however when the deal team is gathered in a conference room and the lead banker is demanding answers, you will be glad that you have the HP 17BII, the ultimate financial calculator for the finance professional. The power of the HP 17BII demands that you study its functions in order to be able to use it well, but after mastery, you will not be disappointed. The comprehensive functionality means that you will not get stuck in complex deal matters. This calculator allows you to enter a formula and set variables to enter and then solve for a missing variable, effectively solving algebraic problems for you.

The real beauty of this calculator lies in the easy to use menu that is displayed on the screen. After some practice with the great user guide provided by HP, you will be able to handle functions like Net Present Value, Loan Payments, and Interest Rates.

This is not a calculator for the novice. Rather it is designed for practitioners of finance, but can be used by anyone looking to do-it-yourself. It is fast and technical. You will struggle to find a problem that it cannot solve either by using the built-in functions or through programming on your own.

Here are the specifics:

Standard algebraic entry methodology

Performs more than 250 business and statistical functions including loan payments, amortization, interest rates and conversion, internal rate of return, net present value, bond price and yield, depreciation, and percentages.

Instruction booklet clearly walks the user through sample calculations and usages.

8,000 bytes of RAM.

Two line display screen that shows menu options as you calculate, which means great complexity in calculations.

The 17BII is fast and rugged and I haven’t yet found something I can’t solve either through the built in functions or by programming it.

Durable frame.

Tactile entry that clearly allows you to feel that you pressed a button.

This calculator is not accepted on the CFA exam.

Purchase the HP 17BII from Amazon by clicking the link below:

HP 17BII Financial Calculator

 

Financial Calculators That Are Allowed on the CFA Exam

The CFA Calculator Policy is very strict. There are two types of calculators allowed in the exam room:

Texas Instruments BA II Plus (including the BA II Plus Professional)

HP 12C (including the HP 12C Platinum and anniversary models)

The good news is that the HP 12C is the most widely used financial calculator and will be a companion throughout your career. In fact most banks will provide this calculator to their incoming class of investment bankers.

The TI BA II Plus is also an excellent calculator. It might not be as popular as the HP 12C, but it has the same functionality.

I owned and used the BA II throughout college and would never consider changing to the HP 12C for the exam because in a timed test environment, speed is important. My familiarity with the BA II Plus provides that speed.

If you are starting out in college and wondering which one to buy, there is no wrong answer, but know that the 12C comes with a certain cachet because of its long history with the banking industry. Pick one of the two, use it through your undergrad years and then as you study for the CFA knowing that you won’t have to learn a new calculator on top of studying for arguably the most difficult of professional exams.

To buy the 12C or BA II Plus on Amazon, click on the pictures below.

All the best on your studies.